Common use of Shortfall in Earnings Clause in Contracts

Shortfall in Earnings. If the aggregate Earnings received in the Earnings Accounts are insufficient at any time for the required amount to be transferred to the Retention Account under Clause 17.2, the Borrowers shall make up the amount of the insufficiency on demand from the Lender; but, without thereby prejudicing the Lender's right to make such demand at any time, the Lender may, if so authorised by the Lender, permit the Borrowers to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (Omega Navigation Enterprises, Inc.)

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Shortfall in Earnings. If the aggregate Earnings received in the Earnings Accounts Account are insufficient at in any time month for the required amount to be transferred to the Retention Account under Clause 17.2, the Borrowers Borrower shall on demand from the Lender make up the amount of the insufficiency on demand from by payment in Dollars to the LenderRetention Account; but, without thereby prejudicing the Lender's ’s right to make such demand at any time, the Lender may, if so authorised by the Lender, may permit the Borrowers Borrower to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Shortfall in Earnings. If the aggregate Earnings received in the Earnings Accounts Account are insufficient at in any time month for the required amount to be transferred to the Retention Account under Clause 17.218.2, the Borrowers Borrower shall make up the amount of the insufficiency on demand from the LenderLenders; but, without thereby prejudicing the Lender's Lenders' right to make such demand at any time, the Lender may, if so authorised by the Lender, Lenders may permit the Borrowers Borrower to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 18.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Shortfall in Earnings. If the aggregate Earnings received in the Earnings Accounts are insufficient at any time for the required amount to be transferred to the Retention Account under Clause 17.218.3 (Monthly retentions), the Borrowers shall make up the amount of the insufficiency on demand from the LenderLenders; but, without thereby prejudicing the Lender's Lenders’ right to make such demand at any time, the Lender may, if so authorised by the Lender, Lenders may permit the Borrowers to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 18.3 (Monthly retentions) from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Partners L.P.)

Shortfall in Earnings. If the aggregate Earnings received in the relevant Earnings Accounts Account are insufficient at in any time month for the required amount amounts to be transferred to the a Retention Account under Clause 17.2, the Borrowers shall make up the amount of the insufficiency on demand from the Lender; but, without thereby prejudicing the Lender's right to make such demand at any time, the Lender may, if so authorised by the Lender, may permit the Borrowers to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

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Shortfall in Earnings. If the aggregate Earnings received in the Earnings Accounts are insufficient at in any time month for the required amount to be transferred to the Retention Account under Clause 17.2clause 14.3, the Borrowers shall on demand from the Bank make up the amount of the insufficiency on demand from by payment in Dollars to the LenderRetention Account; but, without thereby prejudicing the Lender's Bank’s right to make such demand at any time, the Lender may, if so authorised by the Lender, Bank may permit the Borrowers to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 clause 14.3 from the Earnings received in the next or the subsequent months.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Acquisition CORP)

Shortfall in Earnings. If the aggregate Earnings received in the Earnings Accounts Account are insufficient at in any time month for the required amount to be transferred to the Retention Account under Clause 17.218.2, the Borrowers Borrower shall on demand from the Lender make up the amount of the insufficiency on demand from by payment in Dollars to the LenderRetention Account; but, without thereby prejudicing the Lender's ’s right to make such demand at any time, the Lender may, if so authorised by the Lender, may permit the Borrowers Borrower to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 18.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Shortfall in Earnings. If the aggregate Earnings received in the Earnings Accounts are insufficient at in any time month for the required amount to be transferred to the Retention Account under Clause 17.2, the Borrowers Borrower shall make up the amount of the insufficiency on demand from the Lender; but, without thereby prejudicing the Lender's ’s right to make such demand at any time, the Lender may, if so authorised by the Lender, may permit the Borrowers Borrower to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

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